Local

What: A health care delivery network with 28 hospitals in five states.

Founded: 1997

Chairman/CEO: Charles N. Martin Jr.; has served since 1997.

Type: Publicly traded; listed on the New York Stock Exchange under the symbol "VHS"

Performance: For the first quarter of its fiscal 2013, which ended Oct. 30, Vanguard posted net income attributable to shareholders of $13.9 million, or 17 cents per diluted share, compared to a net loss of $21.7 million, or -29 cents per diluted share, during the prior-year period.

Employees: As of June 30, approximately 40,900, including about 6,100 part-time. Of its full-time employees, 3,800 are unionized.

Growth: Since August 2010, has acquired 13 hospitals and related businesses.

Growth strategy: "Acquisitions remain an attractive growth vehicle for us. ... In fiscal 2012, we invested approximately $213 million in acquisitions and another $293 million in capital expenditures, much of which was related to growth. For fiscal 2013, we plan to invest approximately $500 million in capital expenditures. These capital expenditures will expand existing facilities and create new hospital and ambulatory capacity." — 2012 Annual Report

Operating philosophy: "We provide a broad range of services in all of our markets through established networks of acute care and specialty hospitals and complementary outpatient facilities. In our San Antonio, Detroit, Phoenix and Chicago markets, we operate networks of four or more hospitals and, within all of these networks, our hospitals are located within a 6- to 14-mile radius of each other. We believe our network approach allows us to more effectively collaborate with physicians, tailor our services to meet the needs of a broader population and enhance our market share. Additionally, we believe a broader network presence provides us with certain competitive advantages, particularly our ability to attract payers, assume risk-based payments and recruit physicians and other medical personnel."

— 2012 Annual Report

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